Monetary Policy in Interdependent Economies: A Game-Theoretic Approach

Monetary Policy in Interdependent Economies provides the first comprehensive overview of the implications of using game theory to analyze interactions among national monetary policymakers. It synthesizes the pessimistic view of sovereign policymaking that results from the analysis of one-shot games with the optimistic view derived from the analysis of quid pro quo strategies in repeated games. Good outcomes, the authors conclude, require coordination among noncooperative policymakers, and that sometimes policymakers, must be forced to cooperate. They suggest two roles for supranational institutions such as the International Monetary Fund: the IMF can provide a forum where noncooperative policymakers, can work to achieve good outcomes, and it can police agreements among cooperative policymakersCanzoneri and Henderson take clear stands on controversial issues and make recent advances in game theory accessible by using a single unified framework to explain a wide range of concepts. They begin by analyzing one-shot interactions between two policymakers, In subsequent chapters they extend their analysis to allow for more policymakers, and coalitions, for repeated interactions among policymakers, and for the possibility of time inconsistency.

Business & Money

Henderson, Dale

Canzoneri, Matthew B.

Economics

MIT Press]

This exciting new book shows you how to harness the amazing power of technology to enable and enhance active learning.

Active Learning in the Digital Age Classroom

Education & Teaching

Heide, Ann

Schools & Teaching

Heinemann

<p>Active Learning In The Digital Age Class is published by Fitzhenry and Whiteside.<br><br></p>

Science & Math

Technology

Trifolium Books Inc

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Books by Henderson, Dale